Forex News – China manufacturing activity below expectations in March
April 1, 2013 8:34 am
Data from China showed that there was an increase manufacturing activity in March, but at a slower pace compared with that seen in earlier years.
The official China manufacturing purchasing managers’ index (PMI) showed expansion from February to March at a pace of 50.9 from 50.1.
Any number above 50 points indicates growth while below 50 indicates contraction. So at least manufacturing activity is still in expansion territory.
Meanwhile, a private PMI survey by HSBC showed manufacturing activity rose to 51.6 in March from 50.4 in February.
Both indexes had declined in February and some analysts explain the low February readings were partially due to the weeklong Lunar New Year holiday, when factories close and workers return home.
However, March’s post-holiday rebound is mild compared with that seen in previous years. They say the official PMI usually increases by around two points in March, compared with just 0.8 points this year.
Data from China showed that there was an increase manufacturing activity in March, but at a slower pace compared with that seen in earlier years.
The official China manufacturing purchasing managers’ index (PMI) showed expansion from February to March at a pace of 50.9 from 50.1.
Any number above 50 points indicates growth while below 50 indicates contraction. So at least manufacturing activity is still in expansion territory.
Meanwhile, a private PMI survey by HSBC showed manufacturing activity rose to 51.6 in March from 50.4 in February.
Both indexes had declined in February and some analysts explain the low February readings were partially due to the weeklong Lunar New Year holiday, when factories close and workers return home.
However, March’s post-holiday rebound is mild compared with that seen in previous years. They say the official PMI usually increases by around two points in March, compared with just 0.8 points this year.
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